Unit 11 P1 Describe the development of relationship marketing

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P1- Describe the development of relationship marketing


This report will describe the developments of relationship marketing

Things that make a good relationship:

Things that make a good relationship include person to person relationship not a business to customer relationship. The elements of a successful relationship have been stated below

  • Honesty
  • Forgiveness
  • Communication
  • Passion
  • Trust
  • Time-apart
  • Friendship
  • Monogamy
  • Similar values
  • patience

CRM: customer relationship management

Customer relationship management is developing into a major element of corporate strategy for many organisations

Customer relationship marketing is concerned with the creation development and enhancement of individualised relationships with carefully targeted customers and customer and customer groups, the desired results being maximised the total customer life time value

The definition is from CBI (confederation of British industry)  

Customer relationship management is an enterprise approach to understanding and influencing customer behaviour through meaningful communications in order to improve customer acquisition, customer retention, customer loyalty, and customer profitability

The definition is from Robert Swift, Accelerating Customer Relationship (it is a book)

The elements that would make a customer return or be loyal to an organisation are:

  • honesty
  • communication
  • similar value
  • patience
  • trust

I have concluded from what has been stated above that RM is about creating a lifetime partner e.g. lifetime partner such as a marriage

Define relationship marketing as the building of long term relationships of mutual advantage with customers:

Relationship marketing is when an organisation constantly updates their knowledge of individual customers of the products/ services in order to develop a long term relationship with the customer. RM focuses totally (ultimate goal) on retaining customers, RM does this through having customers in mind when making offers and advertisements.

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Explain the importance of customer service and quality in relationship marketing:

In order for an organisation to retain and have loyal long term customers they have to make sure that their customer service (people and processes) are good and effective and also efficient, they also have to make sure that all their products, place, promotion , physical evidence etc are up to a good quality for the customers          

Explain the difference between transactional marketing and relationship marketing:

Transactional marketing is when a customer purchases a product/ service that an organisation offers, in transactional marketing there is ...

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